Adjustment to Base Salary. The Base Salary may be increased, but not be reduced, from time to time as determined by and in the sole discretion of the Compensation Committee.
Adjustment to Base Salary. (a) The University will increase the salary rates payable under Schedules 1.1 and 1.2 of the UNSW (General Staff) Enterprise Agreement 2003 by $500 with effect from the first full pay period after lodgement of the Agreement.
(b) The University will cease paying the Broadbanding Maintenance Allowance established pursuant to clause 27.4 of the UNSW (General Staff) Enterprise Agreement 2003 to any employee entitled to and/or in receipt of the Broadbanding Maintenance Allowance with effect from the first full pay period after the lodgement of this Agreement.
Adjustment to Base Salary. The Base Salary payable from time to time hereunder shall be subject to being increased (but not decreased) in the sole discretion of the Compensation Committee of the Company's Board of Directors.
3. For purposes only of calculating the Annual Retirement Payment under Section 4.F(ii) of the Agreement, for calendar year 1995 and each calendar year thereafter, the term "total annual direct compensation" (as defined in Section 3.A of the Agreement) shall be reduced by each of the following amounts:
A. The amount (the "Extra Increase in Base Salary") by which the Base Salary for each year exceeds $373,515 for 1995 (for 1996 and each year thereafter the 1995 amount ($373,515) will be adjusted annually on a compounded basis by 100% of the increase in the Consumer Price Index described in Section 4.F(i) of the Agreement for each twelve-month period from January 1, 1995 until the first day of each such year); and B. The part of any incentive or supplemental compensation due to the Extra Increase in Base Salary (the "Extra Increase in Incentive Compensation"). As stated above this reduction of total annual direct compensation shall only apply to calendar years 1995 and thereafter for purposes of calculating the Annual Retirement Payment under Section 4.F(ii) of the Agreement.
4. The Company and Employee acknowledge and agree that all other benefits or payments that Employee and his spouse may receive under the Company's defined benefit retirement plans (qualified and nonqualified) in which Employee participates shall be increased on a compound basis each year by the CPI Adjustment in the same manner as the Annual Retirement Payment under Section 4.F(ii) of the Agreement. The aggregate of all such increases to such benefits or payments under the Company's retirement plans shall be a separate contractual obligation of the Company to Employee under the Agreement and shall be payable to Employee in monthly installments in cash at the same time as the monthly Annual Retirement Payment benefit is paid to Employee.
5. For purposes of determining the Retirement Plan Offset in the fourth sentence of Section 4.F (ii) of the Agreement (i) the reference to the Company's retirement plan shall include all defined benefit Company retirement plans (qualified and nonqualified) in which Employee participates, (ii) payments shall be assumed to be made in the form of a 50% joint and survivor annuity with the spouse as the beneficiary commencing the same date as payments of the Annual...
Adjustment to Base Salary. Section 2.(a) of the Agreement is hereby modified to delete the existing text and substitute in lieu thereof the following:
Adjustment to Base Salary. After the first year of the Employment Term, the Base Salary shall be subject to annual review and, if the Board deems it appropriate, increased by the Board based on the financial performance of the Company and such other criteria as the Board considers appropriate.
Adjustment to Base Salary. After six months of the Effective Date of this Agreement, the Company is not selling its products (in the aggregate) at a run rate of 20,000 pounds per month to New Customers, Employee agrees that his Base Salary will be adjusted (“Adjusted Base Salary”) to One Hundred Thirty Thousand Dollars ($130,000) per annum until such time as the run rate of products sold to such new customers reaches 20,000 pounds per month for three (3) consecutive months.
Adjustment to Base Salary. (a) The salaries to be paid to employees covered by this Agreement are set out in Schedule 1 to this Agreement and include the following increases:
(i) 2.5% from the first full pay period after staff endorsement of the Agreement; and
(ii) 2.5% from the first full pay period commencing six (6) months after the date on which staff endorsed the Agreement.
(b) During the life of this Agreement there will be no further salary increases for employees covered by this Agreement, other than the increases provided for by the terms of the Agreement.
Adjustment to Base Salary. As of January 1, 2013, the Base Salary is $324,480. Commencing the earlier to occur of (i) the date that PESI files its 2012 Form 10-K with the Commission, or (ii) April 1, 2013, and continuing for a period of three years from such date (of, if the Employment Agreement is earlier terminated, through the date of such earlier termination), the Base Salary shall be decreased by an annual amount equal to $30,000, with the cumulative effect of such decrease being an aggregate $90,000 over the full three-year term of such adjustment. Except as specifically provided by the foregoing sentence, the Base Salary may be increased, but not be reduced, from time to time as determined by and in the sole discretion of the Compensation Committee.
Adjustment to Base Salary. Commencing as of April 1, 2003, Bank will pay Employee an annual base salary (the "Base Salary") of One Hundred Thirty-Five Thousand and no/100 Dollars ($135,000.00) payable in accordance with the Bank's normal payroll practices. Any back salary due Employee based upon Employee's adjusted Base Salary shall be paid to Employee on or before September 30, 2003.
Adjustment to Base Salary. The Base Salary may be modified from time to time, as determined by and in the sole discretion of the Compensation Committee.
